All Forum Posts by: Rachel H.

@Steven M. Most investors I know who buy mobile home parks usually obtain lending through private lenders and/or partnerships. I've known some to buy on hard money and then refinance later as well. 

Another option would be owner financing, if the seller is open to it. Hope that helps! 

@Jason Khoury Yes, if there's a need for it and people are willing to lease the land it can definitely work. 

You may want to do some research in the surrounding area. See what else is out there in terms of leased land. 

The first thing that comes to mind for me is mobile home parks. If there are communities nearby or mobile homes on land people are renting, it may be worth it to look into it. 

Hope that helps! 

@Ryan Hoganson Great to hear! 

Mobile homes can definitely work, if that's what you're interested in. Like any niche in real estate, you just have to learn and study it. 

Personally, I've been in the business as a mobile home investor since 2007. It's had its ups and downs. Overall, it's been profitable. 

Feel free to DM if you have any questions. Hope that helps! 

@John Herold Usually, it'll be using Kool Seal to re-coat the roof. From my understanding, it's best to do this every 3-5 years. You can buy it at your local hardware store. 

Hope that helps! 

@Samuel Coronado I think a lot of it has to do with the time to develop the land and then fill the lots. It doesen't happen overnight. 

I've seen other investors get into these types of deals based on potential income. It sounds great on paper. Though, it takes time and money to make it happen. 

So just be prepared going in. Mistakes will be made, which can cost more time and money. It's just part of the learning process. 

Regarding resell value, it will depend on the market and if you can find someone willing to purchase for the price you're valuing the park at. Like anything, it may take a while. 

Best of luck with everything. Hope that helps! 

@Margarita Bozhenkova If you need to get out of it because of financial issues and the partnership has gone sour, selling is probably the best course of action. 

Before putting it on the market, you'd have to have a talk with your partner. Make sure you're all on the same page. You'd also have to negotiate what you'll both get out of the sale beforehand. 

Regarding the home value, it's best to do what you can to get it fixed up. If you're looking to sell as-as and a quick sale, just be prepared to get less than it's retail value. 

It's not a bad thing. I've been in bad situations with mobile homes as well, so I completely understand. It's part of the business and definitely a learning experience. 

Hope that helps! 

@Christina Ham You may want to check with surrounding mobile home parks, dealerships and mobile home supply stores. They may have a few referrals for you. Hope that helps! 

@Dino Rosetti Very nice! I took a look at the pics. Best of luck with the deal! 

@Jaime Felber If you're in a good location with a lot of demand and not a lot of supply, it's easier than if you're not in an area with so much demand. Then, it takes a lot of marketing and convincing on your end. 

Also, if the lots are smaller it will be challenging to fill them with older, used homes as they are not easy to find. Though, some owners have done this by filling the spaces with RVs if there's enough demand in the area. 

You may want to try a couple of different approaches to see what works. Hope that helps! 

@Robert E Bogino I've never done it myself. Though, I've heard of other investors do deals as sub-to in this niche. 

You'd have to make sure the numbers work for you. Also, you're able to keep the loan current if you're planning to keep the seller's name on the mortgage until it's paid off. Just be aware of the due-on-sale clause which is a risk when pursuing these types of deals. 

Hope that helps!